"Longer term, of course, the Fed noted it's only planning to cut interest rates once each in each of the next two years, and only by 0.25% each time. For investors, that's a less propitious prospect, but still better than the Fed saying it doesn't expect to cut interest rates after this year - or worse, thinks it might start raising again."
"This morning, Nvidia ( Nasdaq: NVDA) announced it will invest $5 billion in one-time archrival and now ward of the state Intel ( Nasdaq: INTC). Piled on top of President Trump's decision to have the United States government take a 10% stake in Intel, this is fueling investor confidence in Intel's future, and driving up Intel stock by 30% premarket."
The Federal Reserve cut its target interest rate by 0.25% to 4.0%-4.25% and signaled preparedness for two additional cuts this year, potentially lowering the near-term rate to 3.5%. Longer-term guidance indicates only one 0.25% cut in each of the next two years. Nvidia announced a $5 billion investment in Intel and plans to co-develop data-center and PC chips, plus x86 CPUs for AI systems. The U.S. government's 10% stake in Intel and Nvidia's investment have driven Intel shares sharply higher, while the Vanguard S&P 500 ETF showed positive movement. Darden Restaurants reported earnings below expectations.
Read at 24/7 Wall St.
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